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The information provided is for educational purposes only and does not constitute legal, tax, or financial advice; consultation with a licensed attorney or CPA is recommended for specific needs. The Operating Agreement is an internal document for LLC members that outlines management, ownership percentages (membership interest), and operational protocols. Unlike LLC Formation Documents, it does not need to be submitted to the state but should be kept with business records. Its purpose is to clearly define the membership structure and management procedures of the LLC. Additionally, this material is copyright protected and cannot be redistributed without written consent from the author.